DOGE Up 6%, BTC Stuck at $17,000 Amid Low Volumes (Weekend Hour)

As it usually happens over the weekend, volumes have dropped, resulting in little to no price action for BTC.

Most altcoins are in a similar situation, with a few exceptions. Among them is Dogecoin, after a daily increase of 6%.

Bitcoin Boring at $17,000

This past weekend was quite dull in terms of price action, with BTC spending most of it around $16,500. Monday started with a decline in the price towards $16,000, but the bulls cut short the move and didn’t allow any further declines.

More volatility was expected in the middle of the week when US Federal Reserve Chairman Jerome Powell announced his latest interest rate hike, as well as the country’s jobs report released on Friday.

However, both events did not provide much price action, unlike the previous occasions. Bitcoin has been relatively quiet around $17,000, barring a price rally above that level to chart a two-week high.

As the weekend in question got closer and closer, BTC price reached $17,000 and stayed there. Trading volumes are falling again. Bitcoin’s market capitalization is still less than $330 billion, while its dominance over altcoins stands at 38.3%.

BTCUSD. Source: TradingView

DOGE jumps 6%

Most altcoins mimicked BTC’s performance over the weekend, with no major move.

Ethereum lost about 1% of its value in the past 24 hours and fell towards $1,250. Binance Coin, Ripple, Cardano, Polygon, Polkadot, Shiba Inu, Litecoin, and OKB are all around the same levels as they were yesterday.

Dogecoin is the only exception to the larger alternatives. The OG memecoin is up 6% on the day and is trading above $0.1.

Celo and NEXO also gained impressive shares daily, up 16% and 10%, respectively.

Overall, the cryptocurrency market cap held steady at $855 billion on CoinMarketCap.

Overview of the cryptocurrency market.  Source: Quantify Crypto
Overview of the cryptocurrency market. Source: Quantify Crypto

DOGE Up 6%, BTC Stuck at $17,000 Amid Low Volumes (Weekend Hour) appeared first on CryptoPotato.

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